FTX Japan plans to allow its customers to withdraw funds starting in mid-February, making them some of the first users of the collapsed crypto exchange to get their money back. By NelWang
, making them some of the first customers of the collapsed crypto exchange to get their money back.
FTX Japan was previously able to confirm with the company's bankruptcy lawyers in the U.S. that Japanese customers' funds"should not be part of FTX Japan’s estate given how these assets are held and property interests under Japanese law." In mid-January, FTX Japan customers will first be directed to set up an account with Liquid Japan, a local crypto exchange purchased by FTX earlier this year. Then, after customers check their balances, withdrawals will be made available as of mid-February, according to the post.
The company said the timeline could change, however, “depending on the progress of the external security audit.” to suspend services. Sam Bankman-Fried's global enterprise, FTX Trading Ltd., filed for Chapter 11 bankruptcy protection in the U.S. three days later.
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